StockNews.com Initiates Coverage on AMCON Distributing (NYSEAMERICAN:DIT)

Equities researchers at StockNews.com assumed coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the stock.

AMCON Distributing Price Performance

NYSEAMERICAN:DIT opened at $128.61 on Thursday. The company has a quick ratio of 0.91, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. AMCON Distributing has a 1-year low of $118.25 and a 1-year high of $209.44. The company has a market cap of $83.60 million, a P/E ratio of 17.94 and a beta of 0.57.

Institutional Trading of AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. Empowered Funds LLC raised its stake in AMCON Distributing (NYSEAMERICAN:DIT) by 5.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,756 shares of the company’s stock after buying an additional 134 shares during the period. Empowered Funds LLC owned 0.44% of AMCON Distributing worth $399,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 11.14% of the company’s stock.

About AMCON Distributing

AMCON Distributing Company, together with its subsidiaries, engages in the wholesale distribution of consumer products in the Central, Rocky Mountain, and Mid-South regions of the United States. It operates through Wholesale Distribution and Retail Health Food segments. The Wholesale Distribution segment distributes consumer products, including cigarettes and tobacco products, candy and other confectionery, beverages, groceries, paper products, health and beauty care products, frozen and refrigerated products, and institutional foodservice products.